Loonie surges, stock markets advance

TORONTO -- The Canadian dollar surged Wednesday morning as North American stock markets and the price of oil advanced.

The loonie was up 0.28 of a cent at 72.03 cents US as the Toronto Stock Exchange's S&P/TSX index rose 92.19 points to 13,175.05.

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The Dow Jones average of 30 stocks was up 111.84 points at 17,529.11, the broader S&P 500 index advanced 14.43 points to 2,053.40 and the Nasdaq gained 33.05 points to 5,034.16 at mid-morning.

On the commodity markets, the February gold contract fell $5.40 to US$1,068.70 an ounce, the February crude contract was up 92 cents at US$37.06 per barrel and the January contract for natural gas was unchanged at US$1.89.



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